Untethered iOS 4.3.1 jailbreak is out, supports all devices except iPad 2 and Verizon iPhone.
Untethered jailbreak for iOS 4.3.1 supports iPhone 4 (GSM only, since iOS 4.3.1 isn’t available for the Verizon iPhone yet) and 3GS, third- and fourth-generation iPod touch, second-generation Apple TV (via PwnageTool only, for now) and the original iPad. New versions of Redsn0w for Windows and PwnageTool for Mac OS X are out to jailbreak those devices running iOS 4.3.1. Unlike a previous tethered jailbreak, this one doesn’t require you to tether the device to a computer each time it’s restarted. While the updated tools won’t let you jailbreak iOS 4.3 or 4.3.1 on iPad 2, a solutions is in the works and should be expected in the coming days.
Also, ultrasn0w users are advised against updating until Dev-team puts out an update to fix incompatibilities when iOS 4.3.1 is used on the older basebands supported by ultrasn0w.
Via 9 to 5 Mac